UMarkets - pros and cons

What kind of spreads are we talking about and what are we comparing with? Figures are needed to understand the issue. If we compare crypt spreads, they are indeed smaller on exchanges and exchanges will also outdid any broker by the number of assets. That’s where the advantages end and the problems begin. It would seem that narrow spreads increase profits, especially with active trading. But you won’t be able to trade actively on the exchanges, as actively as it’s possible with brokers, in any case. Moreover, profit is extremely scanty without leverage. I think this explains the difference in spreads.

Iе’s clear about the leverage, but you can get a price better than the market one on the exchanges thanks to depth of market.

True, but the most profitable orders are intercepted by bots, while only manual trading without any automation is available for ordinary traders.

If it’s so bad there, then why are there so many traders on the exchanges? I’ve checked there’re thousands of brokers there.

You can’t make a lot on crypto nowadays, that’s why there aren’t a lot of investors. Only miners (mostly the those who used to trade, since mining doesn’t really justify the costs nowadays) who are trying to earn a few dollars from short-term fluctuations.

A constant bearish trend brings a couple of dollars? I strongly doubt it. I think people can profit pretty well there, too, as well as we do from drops.

It is difficult to make money on the stock exchange during recession periods. I can explain. If you come to the exchange as an investor and know that bitcoin will fall, you will sell it. Right? You’ll sell it for dollars and might expect a good time to enter for the entire possible period of the fall. But if this period doesn’t pass, it’d turn out that you’ve always waited in the cache, because the exchanges don’t pay interest for the balance left on you deposit. Where will you get the profit from? No, shortening crypto on the stock exchange is a waste of time.

Well, crypto doesn’t always fall. Sometimes it grows.

Ir does, but these periods are short-lived. On the other hand, when working with a broker, we can bet on both, growth and decline, and get profit from all operations without wasting time on waiting. Besides, we can work with other assets, shorten the same shares, which have also been falling pretty strongly recently. Clients of exchanges are deprived of these privileges.

Lightcoin is growing for the second month . It doesn’t seem to be a short-term phenomenon.

Lightcoin has recently developed a good fundamental component, although if you look at the history for at least six months, you will see that this increase is nothing more than a rebound from the lows. Until the price returns to autumn levels, it’s too early to talk about recovery, especially about growth.

I gave lightcoin as an example. Crypto-exchange has its own undeniable advantages. The assets have already been mentioned, and anonymity, of course, now even loans are offered at ridiculous interest rates.

You probably have long been registered. Anonymity is in the past. Now any serious exchange requires verification to be enforced. Passport photo, ID, license,and I’m not talking about the phone number.

Loans on a crypto-exchange is an analogue of leverage – they’re provided purely for trading. The volume is fixed and very small, as a rule. Using these loans is inconvenient. Using broker’s leverage is much more convenient, since it’s provided automatically for any volume of orders.

Has anyone managed to fulfill the bonuses offered by the broker? If yes, tell us how you managed it on practice, please. I didn’t really understand the conditions, could you clarify this moment for me please?

When fulfilling Umarkets bonuses, you need to bear in mind that each $1000 bonuses require 100 turnover lots. The main disadvantage of bonuses is that the deposit becomes frozen. The option for withdrawing funds for the period of fulfilling is not provided. On the other hand, the good thing is that fulfillment terms aren’t time-limited, as some brokers actually limit by very narrow time frames, which causes psychological discomfort and reduces the chances that you will withdraw these bonuses from your account in the future.

I see. And if I decide to give up bonuses, I lose the earned profit, as I understand. Not very fair terms. And the amount you have to fulfill seems to me very large, too.

After the bonus charge, trading is carried out at the expense of bonuses, because bonuses maintain the margin all this time, so the profit withdrawal by the broker in case of refusal of bonuses is quite fair.

If you count, the deposit worth 1000 is worth $300 welcome bonuses. 30 lots is quite feasible volume for a deposit of 1300 dollars. For a couple of months you can cope. And even if the total profit from transactions for the entire period is small, the reward of 30% of the deposit after two months is quite really good!

I want to deposit no more than the minimum amount for opening an account. I’m thinking about opening an account for money earned on the demo. Umarkets offers demo real, doesn’t it? The broker promises to transfer all earnings on the demo to a real account. Then the only thing I need will be adding the remaining amount to the minimum deposit sum and it’s as good as done.